Applicable Credit Rating definition

Applicable Credit Rating. For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody’s (or with respect to investments in money market funds, a credit rating of “AAAm” or “AAAm-G” in the case of S&P and the highest rating given by Moody’s for money market funds in the case of Moody’s). For any short-term deposit or security, or a rating of A-l+ in the case of S&P or Prime-1 in the case of Moody’s.

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Applicable Credit Rating. For any long-term deposit or security, a credit rating of "AAA" in the case of S&P or "Aaa" in the case of ▇▇▇▇▇'▇. For any short-term deposit or security, a rating of "A-l+" in the case of S&P or "P-1" in the case of ▇▇▇▇▇'▇.

Applicable Credit Rating. For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's. For any sh▇▇▇-▇▇▇m deposit or security, or a rating of A-l+ in the case of S&P or P-1 in the case of Moody's.

Examples of Applicable Credit Rating in a sentence

Promptly after any senior financial or legal officer of either Credit Party obtains knowledge thereof, notice of any change in the Applicable Credit Rating assigned by either Rating Agency.
Notwithstanding the foregoing, all Collateral shall be automatically released (subject to reinstatement upon the occurrence of a new Trigger Event) if at any time subsequent to the Credit Parties providing the Collateral in compliance with the preceding sentence the Applicable Credit Rating issued by each Rating Agency shall, giving effect to such release and subject to the completion of such release, if applicable, each be the Minimum Investment Grade Rating or higher.
Prior to a meeting or discussion with an Applicable Credit Rating Agency to seek a Rating Confirmation, the Owner agrees not to provide or discuss the Rating Review Package (or any similar compilation or individual aspect of similar information related to the Project) to any Applicable Credit Rating Agency without the express prior written consent of the Developer.
To so elect, the Owner shall provide the Developer with ten (10) days’ written Notice of such election (a “Nonparticipation Election”) with such Nonparticipation Election delivered to the Developer within five (5) Business Days of the date that is the later of the completion of the Development Overview or the last date upon which the Owner receives a Rating Confirmation from an Applicable Credit Rating Agency.
Promptly after any senior financial or legal officer of the Borrower obtains knowledge thereof, notice of any change in the Applicable Credit Rating assigned by either Rating Agency.

More Definitions of Applicable Credit Rating

Applicable Credit Rating means a rating assigned to the Company’s Index Debt by ▇▇▇▇▇’▇, S&P or Fitch.

Applicable Credit Rating. For any long-term deposit or security, a credit rating of AAA from S&P. For any short-term deposit or security, a rating of A-l+ from S&P.

Applicable Credit Rating. A credit rating of AAA, in the case of S&P or a rating of AAA, in the case of Fitch, for any long-term deposit or security or a rating of A-1+, in the case of S&P, or Fitch-1 in the case of Fitch, for any short-term deposit or security.

Applicable Credit Rating means the highest rating level (a rating level being, e.g., each of BBB-, BBB and BBB+, in the case of S&P) assigned by each Rating Agency to any of the Long Term Debt Issues of Holdings or the Borrower.

Applicable Credit Rating means Standard & Poor’s Short-Term Credit Rating of A-1 or higher;

Applicable Credit Rating means, at any time, (a) the credit rating of the Credit Facilities assigned to the Credit Facilities by S&P and ▇▇▇▇▇’▇ at such time or (b) if the Credit Facilities shall not be rated by S&P and ▇▇▇▇▇’▇ at such time, the Parent Borrower’s corporate credit rating assigned by S&P and ▇▇▇▇▇’▇ at such time; provided that if at any time S&P shall no longer maintain any of the foregoing ratings, the Administrative Agent and the Parent Borrower shall determine the Applicable Credit Rating using the corresponding ratings level of a rating agency that is reasonably agreed to by the Administrative Agent and the Parent Borrower (a “Replacement Rating Agency”). If any rating established or deemed to have been established by S&P (or, if applicable, a Replacement Rating Agency) shall be changed (other than as a result of a change in the rating system of S&P or ▇▇▇▇▇’▇ or such Replacement Rating Agency), such change shall be effective as of the date on which such change is first announced by the rating agency making such change. If the rating system of S&P or ▇▇▇▇▇’▇ (or, if applicable, the then current Replacement Rating Agency) shall change, the Parent Borrower and the Required Lenders shall negotiate in good faith to amend the definition of “Collateral Release Period” to reflect such changed rating system or the non-availability of ratings from S&P or ▇▇▇▇▇’▇ (or such Replacement Rating Agency) and, pending the effectiveness of any such amendment, the Applicable Credit Rating shall be determined by reference to the rating most recently in effect from S&P or ▇▇▇▇▇’▇ (or such Replacement Rating Agency) prior to such change. If an Applicable Credit Rating shall not be available from S&P or ▇▇▇▇▇’▇ and the Administrative Agent shall have designated a Replacement Rating Agency, then the Parent Borrower and the Required Lenders shall negotiate in good faith to amend the definition of “Collateral Release Period” to reflect such Replacement Rating Agency. Pending the appointment of a Replacement Rating Agency and the effectiveness of any such amendment, the Applicable Credit Rating and Collateral Release Period shall be determined by reference to the rating most recently in effect prior to such unavailability.

Applicable Credit Rating. For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's (or with respect to investments in money market funds, a credit rating of "AAAm" or "AAAm-G" in the case of S&P and the highest rating given by Moody's for money market funds in the case of Moody's). For any short-term deposit or security, or a rating of A-l+ in the case of S&P or Prime-1 in the case of Moody's. Applicable State Law: For purposes of Section 9.12(d), the Applicable State Law shall be (a) the law of the State of New York and (b) such other state law whose applicability shall have been brought to the attention of the Securities Administrator and the Trustee by either (i) an Opinion of Counsel reasonably acceptable to the Securities Administrator and the Trustee delivered to it by the Master Servicer or the Depositor, or (ii) written notice from the appropriate taxing authority as to the applicability of such state law.